UFJ Holdings Inc. and Mitsubishi Tokyo Financial Group Inc. -- two of Japan's four major banking groups -- said Friday they have agreed to start merger talks, aiming to integrate their operations during the first half of fiscal 2005.
They aim to sign a basic agreement by the end of this month on a plan to merge and measures to boost UFJ's capital.
The deal would create the world's largest banking group, with 190 trillion yen in assets.
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